Today's gold bull market, Russell writes, is "one of the greatest and least appreciated bull markets in history. Take in this series, you may never see its like again.
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- ?
"I've been around a long time, and I've studied many primary bull markets. And now I want to venture a few of my observations.
"In markets, I have never seen a series like the above end with a whimper or a fizzle. The end or the wind-up of such a series usually arrives with an upside 'explosion,' as those who have failed to participate in the series finally rush in to join in the apparent endless advance. . . .
"A great primary bull market is an expression of something changing in a very fundamental and meaningful way. Following a great bull market, the world is never quite the same."
Read the rest.
Wednesday, December 29, 2010
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